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ERP Workstream Leading Enhancement Efforts for Our Financial Systems
WaveWorks Team
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As part of Tulane’s WaveWorks initiative, significant improvements are coming to our finance systems through the implementation of Oracle Cloud. These changes will modernize and streamline our financial processes, provide tools for enhanced analysis, and consolidate most of our financial data in one system. 

Key updates

  • A Comprehensive Finance Module: General ledger, projects, accounts payable, accounts receivable, procurement, fixed assets, expenses, cash management, and labor distribution will all be supported in Oracle Cloud.
  • Improved Budget & Reporting Tools: Users will gain online access to departmental budget statements and transaction-level reporting. New drill-down features will enable users to view approvals, procurement details, and real-time dashboards.
  • Faster Year-End and Monthly Closings: Our new system will streamline closing processes, improving reporting and audit timelines.
  • Enhanced EIT and Internal Job Order Systems: Tulane is implementing a new Electronic Interdepartmental Transfers (EIT) system and re-imagining internal purchase and job order processes with a user-friendly, tech-driven approach.
  • Encumbrance Tracking: A long-requested feature, encumbrance visibility will improve budget-to-actual planning and show expenses that are committed but not yet paid.
  • Procurement System Returns to Oracle: Procurement and card systems (Purchasing Cards and Travel & Entertainment cards) will transition into Oracle, consolidating all finance tools into one system.
  • Advanced Accounts Payable Tools alongside Oracle Cloud:
    • A new tool for managing small, one-time payments (e.g., guest speakers or vendors) without vendor setup delays.
    • AI-driven automation for auditing procurement card and AP transactions, as well as sorting and processing invoice emails.
  • Enhancements via the Projects Module: More activities (e.g., grants, gifts, endowment accounts) will move to the Oracle Cloud Projects module, allowing better tracking, management, and transparency—especially for faculty with multiple funding sources. 

These improvements aim to make Tulane’s financial systems more unified, transparent, and efficient—creating one core system for managing financial activity across the university.